Whatever it takes, for as long as is needed: Mapping a new European Recovery Programme

Addressing vulnerability and promoting security
Posted May 21, 2020 | Wilfried Marten Center, Eoin Drea

The spread of the Covid-19 virus and the measures needed to contain it have resulted in a concurrent slowdown in all major global economies. This represents an unprecedented challenge to the economic integrity of the EU, its constituent member states, and the global trading framework. Eoin Drea suggests in this article for the Wilfried Marten Center that current debates on economic support measures are amplified by the public health nature of the Covid-19 crisis and the legacy of the 2008 financial crises. The reform of the Eurozone is essential because of the weaknesses of the single currency area, unprecedented economic contraction, and the rising potential for fragmentation. The author suggests drawing up a European Recovery Programme to lay the basis for shared prosperity, attuned to the realities of the post-COVID19 landscape.



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